AvalonBay Communities, Inc. (NYSE:AVB) Director Sells $528,576.58 in Stock

AvalonBay Communities, Inc. (NYSE:AVB) Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the transaction, the director now directly owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. The trade was a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $229.41 on Friday. The company has a market capitalization of $32.63 billion, a PE ratio of 31.13, a P/E/G ratio of 3.40 and a beta of 0.97. The company has a quick ratio of 2.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a twelve month low of $166.60 and a twelve month high of $236.26. The firm has a fifty day simple moving average of $226.26 and a 200 day simple moving average of $212.16.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The business had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same period last year, the business posted $2.66 earnings per share. On average, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.04 EPS for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.96%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AVB. Truist Financial increased their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Royal Bank of Canada dropped their target price on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price target on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. BNP Paribas started coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective for the company. Finally, Evercore ISI boosted their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $226.88.

Institutional Trading of AvalonBay Communities

Several large investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of AvalonBay Communities during the 3rd quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities in the second quarter valued at $32,000. Versant Capital Management Inc raised its holdings in shares of AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 169 shares during the period. BROOKFIELD Corp ON bought a new position in shares of AvalonBay Communities during the 1st quarter worth about $39,000. Finally, Brooklyn Investment Group bought a new position in shares of AvalonBay Communities during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.